Capinnova deploys Islamic banking solution

Manama, February 23, 2012

International Turnkey Systems (ITS), a leading solution provider for Islamic and conventional banks, has completed deploying its Ethix Core solution for Islamic banking at Capinnova Investment Bank, the Sharia-compliant investment banking arm of BBK.

"Despite tough market conditions, the Islamic banking and investment sector continues to show promise and positive growth on a global scale," said Capinnova head of operations and support Naveed Anjum.

"To drive our leadership position in the industry, we decided to deploy the Ethix Core to enhance our services in the three main business units of asset management, private equity and corporate finance."

The Ethix Core solution for Islamic banking is a suite of technologies that helps banks offer a wider array for revenue-generating products and services, including automated branch management, Internet banking, treasury services, Islamic investments management and documentary credits, among others.

"Our co-operation with Capinnova symbolises the continuation of a long-lasting relationship between ITS and BBK," said ITS managing director Khalid Faraj Al Saeid.

"We deployed the solution in record time and will work with Capinnova to continuously ensure that it suits their specific needs," he added.-TradeArabia News Service